Jordan Based Flash Shopping Site MarkaVIP Raise 3 Million Dollars

30 May, 2011

In a press conference today in Amman, Jordan ,Oasis500 a startup accelerator announced the first two investments resulting from its first Oasis500 Angel network event. Where tow Jordanian startups MarkaVIP and Wheels Express, have received funding “investment”.

MarkaVIP a flash shopping website targeting the Arab region and compete with Jabbar’s Sukar has raised JD 2 million (USD 3 million) from Kawar Group and Hummingbird Ventures. MarkaVIP offer its members in the Middle East access to exclusive international brands at up to an 85% discount.

Ahmed Alkhatib founder and CEO of MarkaVIP told ArabCrunch that the company will use the funding to expand their offering to new markets in the Arab region, including north Africa and in hiring more people.

Oasis500 has recently hosted a regional Angel Network Event, where a number of Jordanian startups demoed in-front of 70 investors from Jordan, the region and Silicon Valley in the USA. MarkaVIP and Wheels express where among them. The King of Jordan Abdula Bin Al Husain who is supportive to the advancement of the tech sector in Jordan has attended the event.

I called Oasis500 today, and they have not told me or invited me to the press conference!

[…] Having recently raised USD3 million in funding from U.S, European and Arab investors, MarkaVIP is expanding to the rest of the GCC countries and Lebanon. It reported that it now enjoys seven-figure monthly revenues and is on track to become the fastest growing Middle East e-commerce brand. It already is one of the fastest growing Middle East brand on Facebook with close to 140,000 fans. […]